Exclusive: Veeva Systems Inc Stock Price Hits 52-Week High Today

November 23, 2016November 23, 2016Ruchi Gupta

The stock of Veeva Systems Inc (NYSE:VEEV) hit a new 52-week high and has $48.37 target or 9.00% above today’s $44.38 share price. The 6 months bullish chart indicates low risk for the $6.01B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $48.37 price target is reached, the company will be worth $540.90 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 662,073 shares traded hands. Veeva Systems Inc (NYSE:VEEV) has risen 55.89% since April 21, 2016 and is uptrending. It has outperformed by 50.56% the S&P500.

Veeva Systems Inc (NYSE:VEEV) Ratings Coverage

Out of 13 analysts covering Veeva Systems (NYSE:VEEV), 6 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 46% are positive. $48 is the highest target while $24 is the lowest. The $37.90 average target is -14.60% below today’s ($44.38) stock price. Veeva Systems has been the topic of 26 analyst reports since August 28, 2015 according to StockzIntelligence Inc. The stock of Veeva Systems Inc (NYSE:VEEV) earned “Buy” rating by Canaccord Genuity on Wednesday, November 25. As per Friday, September 30, the company rating was maintained by Stifel Nicolaus. The firm has “Neutral” rating given on Tuesday, October 4 by Goldman Sachs. The stock has “Buy” rating given by Stifel Nicolaus on Friday, May 27. Leerink Swann maintained Veeva Systems Inc (NYSE:VEEV) on Wednesday, November 25 with “Market Perform” rating. The rating was initiated by Citigroup on Friday, October 30 with “Neutral”. Morgan Stanley maintained Veeva Systems Inc (NYSE:VEEV) on Wednesday, March 2 with “Overweight” rating. The firm earned “Market Perform” rating on Wednesday, August 24 by Raymond James. JP Morgan maintained it with “Overweight” rating and $38 target price in Friday, May 27 report. Needham maintained the stock with “Buy” rating in Wednesday, August 31 report.

According to Zacks Investment Research, “Veeva Systems Inc. operates as a provider of industry-specific, cloud-based software solutions for the life sciences industry. It offers enterprise applications, a multichannel platform, customer relationship management, and content management solutions. The Company provides its solutions to pharmaceutical, animal health, and biotechnology companies. Veeva Systems Inc. is headquartered in Pleasanton, California.”

Insitutional Activity: The institutional sentiment decreased to 1.74 in 2016 Q2. Its down 0.05, from 1.79 in 2016Q1. The ratio dropped, as 18 funds sold all Veeva Systems Inc shares owned while 50 reduced positions. 48 funds bought stakes while 74 increased positions. They now own 92.06 million shares or 3.74% more from 88.74 million shares in 2016Q1.
Blackrock holds 0% or 34,999 shares in its portfolio. Highbridge Mngmt Lc has 0.02% invested in the company for 34,768 shares. Waddell & Reed accumulated 491,036 shares or 0.04% of the stock. Parkside Commercial Bank Tru reported 1,855 shares or 0.03% of all its holdings. State Board Of Administration Of Florida Retirement Sys holds 81,935 shares or 0.01% of its portfolio. Pacad Limited last reported 0.11% of its portfolio in the stock. Schwab Charles Invest accumulated 0.01% or 280,773 shares. Fmr Llc has invested 0% of its portfolio in Veeva Systems Inc (NYSE:VEEV). Nelson Roberts Ltd Liability has 318 shares for 0% of their US portfolio. Envestnet Asset Mngmt, a Illinois-based fund reported 49,543 shares. Nicholas Inc Wi last reported 104,510 shares in the company. Renaissance Tech Ltd Co last reported 0.11% of its portfolio in the stock. California Employees Retirement Systems reported 108,500 shares or 0.01% of all its holdings. Profund Advisors Limited Liability Co holds 28,910 shares or 0.05% of its portfolio. Franklin Resource owns 513,617 shares or 0.01% of their US portfolio.

Insider Transactions: Since June 1, 2016, the stock had 0 insider buys, and 37 selling transactions for $35.72 million net activity. CODD RONALD E F had sold 10,000 shares worth $343,204 on Monday, June 13. 1,408 shares were sold by Lequient Frederic, worth $57,066. $1.67 million worth of shares were sold by Ritter Gordon on Monday, July 11. 84,000 shares were sold by Wallach Matthew J, worth $3.24M on Monday, November 7. 2,716 shares were sold by Mateo Alan, worth $108,368 on Wednesday, September 14. Zuppas Eleni Nitsa also sold $184,509 worth of Veeva Systems Inc (NYSE:VEEV) shares. $1.43 million worth of Veeva Systems Inc (NYSE:VEEV) shares were sold by Cabral Timothy S.